Knowledge Notes | Centralized and Decentralized Exchanges
① PancakeSwap is one of the major DEXs on BNB Smart Chain, and $CAKE is this DEX’s native token.
② Many DEXs don’t use order books, but instead quote prices using liquidity pools and automated market-making formulas, like Uniswap on Ethereum.
③ If you want convenient fiat on-ramps and off-ramps and customer support, a CEX is easier to use. If you want to manage your own private keys and use on-chain apps, you’ll need to learn wallet security.
$BNB 753.07 (+1.13%)
#BNB
Don’t take what I say as advice.
① PancakeSwap is one of the major DEXs on BNB Smart Chain, and $CAKE is this DEX’s native token.
② Many DEXs don’t use order books, but instead quote prices using liquidity pools and automated market-making formulas, like Uniswap on Ethereum.
③ If you want convenient fiat on-ramps and off-ramps and customer support, a CEX is easier to use. If you want to manage your own private keys and use on-chain apps, you’ll need to learn wallet security.
$BNB 753.07 (+1.13%)
#BNB
Don’t take what I say as advice.